Quest Partners LLC Sells 1,910 Shares of Gartner, Inc. (NYSE:IT)

Quest Partners LLC trimmed its holdings in Gartner, Inc. (NYSE:IT) by 93.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 132 shares of the information technology services provider’s stock after selling 1,910 shares during the quarter. Quest Partners LLC’s holdings in Gartner were worth $59,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. TCW Group Inc. raised its holdings in Gartner by 4.0% in the 4th quarter. TCW Group Inc. now owns 199,062 shares of the information technology services provider’s stock valued at $89,800,000 after acquiring an additional 7,639 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Gartner by 11.4% in the first quarter. Russell Investments Group Ltd. now owns 25,063 shares of the information technology services provider’s stock valued at $11,987,000 after purchasing an additional 2,560 shares in the last quarter. Icon Wealth Advisors LLC bought a new position in Gartner in the fourth quarter worth $2,093,000. Madison Asset Management LLC lifted its position in Gartner by 2.8% in the fourth quarter. Madison Asset Management LLC now owns 344,657 shares of the information technology services provider’s stock worth $155,478,000 after purchasing an additional 9,538 shares during the period. Finally, TFO Wealth Partners LLC boosted its stake in Gartner by 3,456.6% during the fourth quarter. TFO Wealth Partners LLC now owns 2,703 shares of the information technology services provider’s stock worth $1,219,000 after buying an additional 2,627 shares in the last quarter. Institutional investors and hedge funds own 91.51% of the company’s stock.

Gartner Stock Performance

NYSE:IT opened at $506.49 on Thursday. The stock has a market capitalization of $39.32 billion, a P/E ratio of 50.40, a price-to-earnings-growth ratio of 3.89 and a beta of 1.32. Gartner, Inc. has a 1 year low of $323.61 and a 1 year high of $515.09. The firm has a 50 day moving average of $480.57 and a 200-day moving average of $461.49. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.80.

Gartner (NYSE:IT) last posted its quarterly earnings data on Tuesday, July 30th. The information technology services provider reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $3.02 by $0.20. Gartner had a return on equity of 142.05% and a net margin of 13.67%. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the firm earned $2.85 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Gartner, Inc. will post 11.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on IT shares. UBS Group increased their price objective on shares of Gartner from $510.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets increased their price target on shares of Gartner from $450.00 to $510.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised Gartner to a “strong sell” rating in a report on Tuesday, August 13th. StockNews.com cut Gartner from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Bank of America boosted their price target on Gartner from $525.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Gartner presently has an average rating of “Hold” and an average target price of $521.00.

Insiders Place Their Bets

In other Gartner news, EVP Akhil Jain sold 400 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total value of $194,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,839 shares of the company’s stock, valued at $2,346,915. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Gartner news, EVP Claire Herkes sold 478 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $506.01, for a total transaction of $241,872.78. Following the completion of the sale, the executive vice president now directly owns 1,905 shares of the company’s stock, valued at approximately $963,949.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Akhil Jain sold 400 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $485.00, for a total transaction of $194,000.00. Following the transaction, the executive vice president now owns 4,839 shares in the company, valued at $2,346,915. The disclosure for this sale can be found here. Insiders have sold a total of 65,164 shares of company stock valued at $32,601,014 in the last 90 days. 3.60% of the stock is currently owned by insiders.

About Gartner

Gartner, Inc operates as a research and advisory company in the United States, Canada, Europe, the Middle East, Africa, and internationally. It operates through three segments: Research, Conferences, and Consulting. The Research segment delivers its research primarily through a subscription service that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts.